Royal Gold, Inc. $RGLD Stock Acquired by Euro Pacific Asset Management LLC

Key Points

• Euro Pacific Asset Management increased its Royal Gold stake by 5.3% in the third quarter, adding 8,725 shares to reach 174,265 shares, valued at about $41.1 million.
• Royal Gold reported quarterly EPS of $2.80, slightly above estimates, and revenue of $464.77 million, up 84.4% year over year and ahead of forecasts.
• Institutional investors own 83.65% of the company’s shares. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $309.67.

Euro Pacific Asset Management LLC grew its position in shares of Royal Gold, Inc. (NASDAQ:RGLD - Free Report) TSE: RGL by 5.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 174,265 shares of the basic materials company's stock after acquiring an additional 8,725 shares during the period. Royal Gold comprises about 2.8% of Euro Pacific Asset Management LLC's holdings, making the stock its 11th largest holding. Euro Pacific Asset Management LLC owned about 0.21% of Royal Gold worth $41,126,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Royal Gold in the 2nd quarter valued at approximately $2,177,865,000. Bank of New York Mellon Corp bought a new stake in shares of Royal Gold during the second quarter valued at approximately $150,762,000. Findlay Park Partners LLP bought a new stake in shares of Royal Gold during the second quarter valued at approximately $111,392,000. Bank of America Corp DE purchased a new stake in Royal Gold in the second quarter worth $88,124,000. Finally, Deutsche Bank AG purchased a new stake in Royal Gold in the second quarter worth $69,325,000. Institutional investors own 83.65% of the company's stock.

Insider Transactions at Royal Gold

In other Royal Gold news, SVP Randy Shefman sold 500 shares of the business's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $262.80, for a total value of $131,400.00. Following the sale, the senior vice president directly owned 8,082 shares of the company's stock, valued at approximately $2,123,949.60. The trade was a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.35% of the company's stock.

Royal Gold Price Performance

RGLD stock opened at $265.81 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.21 and a current ratio of 2.40. The firm has a 50 day moving average price of $244.37 and a 200-day moving average price of $241.16. Royal Gold, Inc. has a 52-week low of $170.89 and a 52-week high of $306.25. The firm has a market capitalization of $22.52 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 1.92 and a beta of 0.46.

Royal Gold (NASDAQ:RGLD - Get Free Report) TSE: RGL last posted its quarterly earnings results on Wednesday, November 4th. The basic materials company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.03. The company had revenue of $464.77 million for the quarter, compared to the consensus estimate of $459.84 million. Royal Gold had a return on equity of 11.67% and a net margin of 47.69%. The firm's quarterly revenue was up 84.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.06 EPS. Equities research analysts forecast that Royal Gold, Inc. will post 10.71 EPS for the current fiscal year.

Royal Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were paid a dividend of $0.4750 per share. The ex-dividend date was Friday, October 2nd. This represents a $1.90 dividend on an annualized basis and a yield of 0.7%. Royal Gold's payout ratio is presently 19.15%.

Royal Gold News Summary

Here are the key news stories impacting Royal Gold this week:

• Positive Sentiment: Royal Gold reported third-quarter EPS of $2.80, above the $2.77 consensus, and revenue of $464.77 million, topping expectations and rising 84.4% year over year. Royal Gold Q3 earnings results
• Positive Sentiment: The company announced record cash flow and full repayment of its debt, strengthening its balance sheet and financial flexibility. Royal Gold reports record cash flow and repays debt
• Neutral Sentiment: Royal Gold outlined a roughly $43 million buyback of a Kinross Great Bear royalty interest, increasing its net smelter return royalty to 1.5%; it said its $1.4 billion revolving credit facility remains available. Royal Gold outlines Great Bear royalty transaction
• Negative Sentiment: Bank of America Securities maintained its sell rating, signaling continued analyst skepticism despite the strong quarter. Bank of America Securities keeps sell rating

Wall Street Analyst Weigh In

A number of research firms have issued reports on RGLD. Raymond James Financial set a $337.00 price objective on Royal Gold in a report on Friday. TD dropped their target price on shares of Royal Gold from $315.00 to $311.00 and set a "buy" rating on the stock in a report on Tuesday, October 20th. Zacks Research upgraded shares of Royal Gold from a "strong sell" rating to a "hold" rating in a report on Monday, September 7th. Canadian Imperial Bank of Commerce set a $305.00 target price on shares of Royal Gold in a research report on Friday, October 16th. Finally, UBS Group increased their price target on shares of Royal Gold from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Royal Gold presently has an average rating of "Moderate Buy" and a consensus price target of $309.67.

About Royal Gold

Royal Gold, Inc is a precious metals company that finances mining operations through royalty and streaming agreements. Rather than operating mines itself, the company acquires interests that give it rights to payments or a share of future metal production from mines operated by other companies.

Under a streaming agreement, Royal Gold provides financing in exchange for the right to purchase a specified portion of a mine's future production at an agreed price. Its royalties generally entitle it to payments tied to a mine's production or revenue.

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